Now in the twilight of his career the country’s best-known international business figure is probably more concerned about sorting out his legacy than anything else.

That means ensuring his sons are positioned to take the helm at Independent News and Media (INM) and Waterford Wedgwood — Gavin and Tony Jr respectively — and clearing up the financial mess that has left both businesses weighed down with massive debt.

As executive chairman of INM he has managed the restructure of the media company which has seen its net debt fall from €1.34 billion at the end of last year to a projected €1.1 billion this year.

That is still a huge number relative to INM’s equity but disposals and fundraisings should be